Nifty 50 closed lower due to state-run banks, while S&P BSE Sensex closed slightly higher. Analysts suggest selling if Nifty breaches 22348 or rises to 22570-22620. US markets rose on Fed rate cut hopes.
When a large private sector is instructed by RBI to stop doing some part of business and the stock tanks by more than 10 % it is bound to raise questions about whether the private sector banks have passed their best in terms of performance on the street. Literally every entity in the banking sector is being looked at and given the sheer size and number of banks there are some issues that are bound to come up. Only thing which investors should give importance to when looking at the macro picture is how GDP growth is shaping up
Stock market declines by 0 28% hallmarknews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hallmarknews.com Daily Mail and Mail on Sunday newspapers.
The way things have panned in the last one month, it is clear that bulls are not in any mood to leave the street. The pattern of the sectoral rotation is visible. Yesterday, it was banking which led the rally while there was a correction in real estate. Today it is auto stock which is leading the rally. Clearly the under current is bullish and if there is no major description coming in, then it is very likely that bullish trend is likely to continue. At this point of time, the preference toward large cap stocks continues as Q4 numbers from large companies are coming in line with expectations. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Nigerian Market sheds weight, closes lower by 1 20% hallmarknews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hallmarknews.com Daily Mail and Mail on Sunday newspapers.